Raymond James & Associates Has $40.26 Million Stake in Adobe Systems (NASDAQ:ADBE)

Raymond James & Associates decreased its holdings in Adobe Systems (NASDAQ:ADBE) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 229,739 shares of the software company’s stock after selling 787 shares during the period. Raymond James & Associates’ holdings in Adobe Systems were worth $40,259,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ark Investment Management LLC lifted its position in shares of Adobe Systems by 113.1% in the second quarter. Ark Investment Management LLC now owns 1,890 shares of the software company’s stock worth $267,000 after buying an additional 1,003 shares in the last quarter. Nationwide Fund Advisors lifted its position in shares of Adobe Systems by 3.9% in the third quarter. Nationwide Fund Advisors now owns 729,421 shares of the software company’s stock worth $108,815,000 after buying an additional 27,083 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Adobe Systems by 5.0% in the third quarter. New York State Common Retirement Fund now owns 1,471,148 shares of the software company’s stock worth $219,466,000 after buying an additional 70,650 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Adobe Systems by 10.1% in the third quarter. Advisor Group Inc. now owns 21,831 shares of the software company’s stock worth $3,257,000 after buying an additional 2,000 shares in the last quarter. Finally, Bank of Stockton lifted its position in shares of Adobe Systems by 11.7% in the third quarter. Bank of Stockton now owns 5,870 shares of the software company’s stock worth $875,000 after buying an additional 615 shares in the last quarter. 87.03% of the stock is owned by hedge funds and other institutional investors.

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ADBE opened at $218.61 on Friday. The company has a market cap of $110,830.45, a PE ratio of 60.89, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04. Adobe Systems has a one year low of $128.21 and a one year high of $231.34. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.22.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, March 15th. The software company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.11. Adobe Systems had a return on equity of 24.42% and a net margin of 24.40%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the firm earned ($0.43) earnings per share. Adobe Systems’s revenue was up 23.6% compared to the same quarter last year. equities research analysts predict that Adobe Systems will post 5.35 earnings per share for the current year.

A number of equities research analysts recently commented on ADBE shares. JPMorgan Chase downgraded Adobe Systems from an “overweight” rating to a “neutral” rating and set a $185.00 target price on the stock. in a research report on Tuesday, December 12th. Cowen reiterated a “buy” rating and issued a $200.00 target price on shares of Adobe Systems in a research report on Monday, December 11th. Credit Suisse Group reiterated a “buy” rating and issued a $190.00 target price on shares of Adobe Systems in a research report on Wednesday, December 13th. Morgan Stanley reiterated an “equal weight” rating and issued a $186.00 target price (up from $155.00) on shares of Adobe Systems in a research report on Wednesday, December 13th. Finally, Bank of America restated a “buy” rating and set a $220.00 price objective (up from $213.00) on shares of Adobe Systems in a research report on Wednesday, December 13th. Ten research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Adobe Systems has an average rating of “Buy” and a consensus price target of $217.88.

In related news, CFO Mark Garrett sold 54,488 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $187.38, for a total value of $10,209,961.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Charles M. Geschke sold 21,276 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $186.55, for a total value of $3,969,037.80. The disclosure for this sale can be found here. In the last three months, insiders sold 316,586 shares of company stock worth $62,229,415. 0.33% of the stock is owned by insiders.

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Adobe Systems Company Profile

Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. This segment's flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

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